HDFC – the World’s 27th safest bank

NEW DELHI: Indian private sector bank HDFC has secured a place in the World’s Top 250 safest banks, a survey organized by ‘The Banker’- a Financial Times publication. The Banker reported that HDFC has been ranked 27th globally and stands 6th in the Asia specific ranks.

A statement from ‘The Banker’ said that the survey has been conducted based on various key points such as asset quality, profitability and capital of the banks. It also added that the risk environments surrounding the bank’s home country were also taken into consideration, to decide the rankings.

Started in 1994, HDFC bank is an Indian banking company founded by Hasmukhbhai Parekh and headquartered in Mumbai. It is the fifth largest bank in India, in terms of the assets. Mr Aditya Puri is the current chief executive officer of the HDFC bank.

Apart from the HDFC, other banks of India have also featured in the top 250 global rankings, declared by ‘The Banker’. Among the Indian banks, Axis and the ICICI banks have secured 71st and the 85th positions respectively.

Notably, the state-held State Bank of India has been ranked at 201, a meager position when compared to its private sector opponents, the Economic Times reported.

Coming to the Asia-specific ranks, Punjab National Bank has secured 206th place while the Bank of Baroda was ranked at 214.